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To insert a text box in Microsoft Excel, navigate to the Insert tab and select the text box option on the right. Unlike comments, text boxes can be moved and resized freely. Once you click and drag the cursor to create the text box, you can type content within it, such as "This is the sales report for the awesome company." After clicking away, the text box becomes non-editable, but you can re-enter it for editing. To move the text box, click on it to access it again, then position the cursor at the top until it changes to a cross, allowing you to drag it to a new location. Adjust the size as necessary to ensure it doesn’t obstruct other content.